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May 1, 2009

Ferrari Posts Q1 Profits

By Pardhasaradhi Gonuguntla

According to the Fiat Group’s first quarter 2009 results, released to the board of directors and the financial community yesterday, Ferrari was the most profitable of all of its companies in the first three months of the year.

Despite the fact that the world financial crisis has resulted in a severe collapse of the car market, the Prancing Horse ended the first quarter of 2009 with a trading profit of 54 million euro. This is not only the highest profit recorded in any of the various Fiat Group sectors but is also one of the few positive signs to appear in the first quarter results of any automotive company anywhere in the world.

Sales of the Ferrari California are proving particularly vigorous. The new V8, officially unveiled on the Asian market at the Shanghai International Motor Show last weekend, has attracted a huge interest in Asia.

In North America, deliveries of the Ferrari California will start in late June and the waiting list is now set at 24 month.

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